BILL · 1995–96 SESSION · LATEST VERSION SSB 5333

SB 5333: Trust funds investment

Revising regulations for the investment of trust funds.

Summary

  • The Investment of Trust Funds Act is amended to codify existing case law and to clarify the statutes governing the investment of trust monies. A fiduciary has a duty to invest trust funds solely in the interest of the beneficiaries and a duty to act impartially in making investment decisions if the trust has more than one beneficiary.

From the Substitute Senate Bill Report (SSB 5333), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted (partial veto) Enacted with partial veto · Chapter 307, Laws of 1995
  1. IntroducedJan 19, 1995
  2. Out of committee
  3. Passed SenateMar 7, 1995
  4. Passed HouseApr 13, 1995
  5. Partly vetoed
  6. LawMay 9, 1995
Prime sponsor
Adam Smith (D-33)
Introduced
January 19, 1995 in the Senate
Last action
May 9, 1995
Session law
Chapter 307, Laws of 1995
Companion bill
HB 1185
Versions
SB 5333, SSB 5333

Sponsors

Prime sponsor: Adam Smith (D-33)

2 co-sponsors (0 Democrats, 2 Republicans)

Votes

Senate · Final Passage

March 7, 1995
Version voted on: SSB 5333
48 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat25000
Republican23001
How each member voted

House · Final Passage

April 13, 1995
Version voted on: SSB 5333
95 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat34002
Republican61000
How each member voted

Yea (95)

Excused (2)

Senate · Final Passage

April 19, 1995
Version voted on: SSB 5333
47 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat24001
Republican23001
How each member voted

History

The Legislature's online data doesn't include step-by-step history for sessions before 2001. Its final status is shown above, and the official bill page may have more.

SB 5333 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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